Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 4% stock, $25 par, and 31,000 shares of $75 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $9,500; second year, $15,750; third year, $75,790; fourth year, $113,660. Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0". Preferred stock (dividend per share) Common stock (dividend per share) 1st Year 0.80 X 2nd Year 0.80 X 0 ✓ 3rd Year 0.80 X 2.12 X 4th Year 0.80 X 5.04 X
Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 4% stock, $25 par, and 31,000 shares of $75 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $9,500; second year, $15,750; third year, $75,790; fourth year, $113,660. Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0". Preferred stock (dividend per share) Common stock (dividend per share) 1st Year 0.80 X 2nd Year 0.80 X 0 ✓ 3rd Year 0.80 X 2.12 X 4th Year 0.80 X 5.04 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Dividends ber share
Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 4% stock , $25 par, and 31,000 shares of $75 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $9,500; second year, $15,750; third year, $75,790; fourth year, $113,660.
Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "O".
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Preferred stock (dividend per share)
Common stock (dividend per share)
G
Dividends per share
Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 4% stock, $25 par, and 31,000 shares
of $75 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $9,500; second year, $15,750;
third year, $75,790; fourth year, $113,660.
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Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a
given year, enter "0".
H
Q Search
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CengageNOWV2 | Onl x C Lightfoot Inc., a softw: X
Locator=&inprogress=false
H
A
4
L
8
1st Year
T
0.80 X
Check My Work
Is the preferred stock cumulative or non-cumulative stock? Determine what amount of current dividends that preferred stock should receive per
year. Is the question asking for a per-share amount or total amount per class of stock?
(
K
0
hp
PE
2nd Year
$ 0
0.80 X
O
J
C Dividends Per Share SX +
P
O
3rd Year
0.80 X
2.12 X
4th Year
30
0.80 X
5.04 X
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7/23/2023
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